Global Refined Cotton-Seed Oil Market 2024

Refined Cotton-Seed Oil Market Size

In 2022, the global refined cotton-seed oil market increased by 13% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the global market reached the peak level at $X in 2013; afterwards, it flattened through to 2022.

Refined Cotton-Seed Oil Production

In value terms, refined cotton-seed oil production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 13%. Global production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Refined Cotton-Seed Oil Exports

Exports

In 2022, after two years of decline, there was significant growth in shipments abroad of refined cotton-seed oil, when their volume increased by 19% to X tons. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 26%. Over the period under review, the global exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined cotton-seed oil exports skyrocketed to $X in 2022. Overall, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +106.3% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States was the major exporting country with an export of about X tons, which recorded 35% of total exports. It was distantly followed by Argentina (X tons), Kazakhstan (X tons), Malaysia (X tons), Benin (X tons), China (X tons) and Turkey (X tons), together generating a 47% share of total exports. Brazil (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to refined cotton-seed oil exports from the United States stood at -6.3%. At the same time, Kazakhstan (+46.7%), Turkey (+22.4%), China (+19.1%), Brazil (+17.6%), Argentina (+3.3%), Malaysia (+3.1%) and Benin (+1.5%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the world, with a CAGR of +46.7% from 2012-2022. While the share of Kazakhstan (+9.3 p.p.), China (+4.7 p.p.), Argentina (+4.3 p.p.), Turkey (+4.3 p.p.), Brazil (+3.2 p.p.) and Malaysia (+1.9 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the United States (-29.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) emerged as the largest refined cotton-seed oil supplier worldwide, comprising 37% of global exports. The second position in the ranking was taken by Argentina ($X), with a 10% share of global exports. It was followed by Kazakhstan, with a 10% share.

In the United States, refined cotton-seed oil exports expanded at an average annual rate of +2.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (+2.4% per year) and Kazakhstan (+48.5% per year).

Export Prices by Country

The average refined cotton-seed oil export price stood at $X per ton in 2022, growing by 19% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined cotton-seed oil export price increased by +68.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+9.8%), while the other global leaders experienced more modest paces of growth.

Refined Cotton-Seed Oil Imports

Imports

In 2022, overseas purchases of refined cotton-seed oil were finally on the rise to reach X tons after two years of decline. Overall, imports, however, showed a slight slump. The most prominent rate of growth was recorded in 2017 when imports increased by 51%. Global imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, refined cotton-seed oil imports surged to $X in 2022. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.0% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Australia (X tons), distantly followed by the United States (X tons), Malaysia (X tons), France (X tons), Tajikistan (X tons) and Uzbekistan (X tons) were the major importers of refined cotton-seed oil, together making up 63% of total imports. The following importers - Canada (X tons), Benin (X tons), Greece (X tons), Kyrgyzstan (X tons), Nigeria (X tons), India (X tons) and Democratic Republic of the Congo (X tons) - together made up 20% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +84.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest refined cotton-seed oil importing markets worldwide were Australia ($X), France ($X) and Malaysia ($X), with a combined 39% share of global imports.

France, with a CAGR of +45.9%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average refined cotton-seed oil import price stood at $X per ton in 2022, growing by 38% against the previous year. Over the period under review, the import price recorded buoyant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+11.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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